Varma’s Corporate Social Responsibility Programme

1. Varma’s Corporate Social Responsibility Programme1
Corporate social responsibility at
Varma

2. In autumn 2015 we drew up a new
Corporate Social Responsibility (CSR)
programme.
It is based on an extensive stakeholder
survey conducted to map out CSR themes
that are important to Varma. Close to 1,200
respondents participated in the online
survey.
The feedback provided by the stakeholders
was used to define a vision, targets and
indicators for Varma’s CSR work.
Varma’s Corporate Social Responsibility Programme2

3. Varma’s Corporate Social Responsibility Programme3
Vision
CSR is part of Varma’s daily
operations.
We actively communicate what CSR
means to us and how our
responsible operations show in
society.
We continuously develop our
responsible ways of operating.

4. The making of Varma’s Corporate Social Responsibility Programme
Varma’s Corporate Social Responsibility Programme4
•Varma’s current CSR
situation was charted
•A competitor and sector
analysis and a SWOT
analysis were carried out
Analysis of current
situation
•The online survey sent by
email drew 1,168
responses
•Some stakeholder groups
were interviewed face-to-
face
Stakeholder
consultation during
the CSR survey
•The Executive Group
decided how stakeholder
expectations will be met
and which CSR themes are
significant for business
Prioritising according
to business
•Varma’s CSR targets and
indicators
•Key CSR development
projects for 2016
Corporate Social
Responsibility
Programme

5. For Varma, responsible operations
means first and foremost securing
solvency, disruption-free
implementation of pension provision
and promoting workability.
Responsible investment (RI) is an
integral part of our investment
operations and ownership practices.
Open and active communication is part
of our corporate social responsibility.
Varma’s Corporate Social Responsibility Programme5

6. Securing solvency highest priority in the materiality matrix
Varma’s Corporate Social Responsibility Programme6
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Stakeholderexpectations
Significance for Varma’s business
1. Securing solvency
2. Disruption-free implementation of pension
provision
3. Open and pro-active communication
4. Promoting workability and longer careers
5. Transparent and open operations and
administration
6. Responsible investment
7. Mitigating climate change
8. Considering environmental aspects in the
company’s operations and supply chain
9. Varma employees’ well-being at work and
competence
10. Preventing the grey economy
11. Supporting entrepreneurship
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7. CSR targets and indicators 1/2
Area Target Indicator
Securing solvency
Pensions have been well secured
We pay the best client bonuses
Solvency ratio
Client bonuses (in relation to payroll)
Disruption-free implementation of pension
provision
Steady development of premiums written
Pension and rehabilitation customers receive their decisions
without delay. Pension is paid within 4 days of the pension
decision.
Fair pension decisions
Premiums written
Uninterrupted income for the applicant
Decisions by appeal bodies (%)
Open and pro-active communication
We openly disclose information about our operations and
responsible actions.
Responsible operations are reflected in all our
communications. We will report quarterly on our CSR
issues and we will publish our first annual CSR report in
accordance with GRI for 2016.
Promoting workability and longer careers
Reduction of disability pensions
Effectiveness of rehabilitation
Effectiveness of workability management from the
customer’s perspective
Customers’ average retirement age
Client companies’ contribution category development
Proportion of rehabilitees returning to work
Transparent operations and administration
Our customers and stakeholders consider our operations to be
flawless and upstanding.
The agreed policies have been updated and published on
our website
Varma’s Corporate Social Responsibility Programme7
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8. Targets and indicators 2/2
Area Target Indicator
Resposible investment
Integrating RI in investment processes and systematic
monitoring
Portfolio ESG charting
Updating ownership policy
PRI Assessment Report
Mitigating climate change and taking into account
environmental aspects
Carbon footprint calculation and setting the related targets in
investments
Reduction in CO2 emissions from our own operations and the
supply chain
CO2 footprint calculated and climate policy drawn up
Green Office operations and drawing up of a supplier
code of conduct
Varma employees’ well-being at work and
competence
We take care of our workability and develop our competence
We know how to serve our customers smoothly
Employee satisfaction
Customer feedback
Preventing the grey economy
All work carried out in Finland is covered by earnings-related
pension insurance
Communications and marketing for the Palkkaus.fi service
Supporting entrepreneurship
Supporting new entrepreneurs with information to ensure that
the entrepreneur’s social security is on the right level and hiring
employees is easier
Content development for digital services
(onnistuyrittäjänä.fi, Yrittäjämobiili and palkkaus.fi) and
marketing
Responsible Varma employees
Increasing the CSR awareness and competence of Varma
employees
We provide training and communications on responsible
ways of operating at least once a month.
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9. Going forward, we will disclose
information on our progress in corporate
social responsibility in connection with
our interim reviews.
We will publish our first Corporate Social
Responsibility Report for 2016, using GRI
as a reference framework. UN PRI report
on responsible investment is published
yearly.
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10. We are happy to answer all your questions concerning CSR at
Varma!
Katariina Sillander
CSR Manager
katariina.sillander@varma.fi
@KSillander
Senior Vice-President, Communications, HR
and Corporate Social Responsibility
katri.viippola@varma.fi
@viippola
Katri Viippola
Varma’s Corporate Social Responsibility Programme10
varma.fi/responsibility